Now, assuming that we trust the government-- I think the U.S. Government has never defaulted on its debt-- we'd take that as a riskless return.
假设我们信任政府-,假设美国政府从未拖欠债务-,可以把它当作无风险回报。
But then the U.S. crashed into a huge well actually it was as worldwide recession of 1981-2.This was the biggest recession since The Great Depression.
但是之后,美国卷进了一个巨大的,事实上,是个世界范围内的经济衰退,于1981-1982年,这是自从大萧条以来,最严重的一次经济衰退。
So let's -- we'll go to a brand new color, TS define A as u minus TS.
我们用一种新的颜色,定义A等于u减去。
应用推荐